Cryptocurrency, also known as digital money, is a virtual currency designed as a mean of exchange between private individuals or groups, without interference from the government or any other financial institution. Cryptocurrency is a decentralized money system meaning that it has no administration or bank controlling the cash flow.
Cryptocurrency's network runs on cryptographic protocols which are complex mathematical codes developed on computers by engineers. The protocols help to transfer data and to secure the system that produces the currencies from eventual hackers trying to break the network, duplicate or counterfeit the coins. The records of a cryptocurrency’s transactions are kept on a master ledger called “Blockchain."
As opposed to fiat currencies which value and activities are under the control of regulatory authorities, Therefore, the value of a cryptocurrency solely depends on how many people accept to buy it. Private engineers named miners control activities on the blockchain (production of new currencies, transactions, regulations).
You can buy cryptocurrencies on the Internet or exchange your cryptocurrencies for traditional currencies anytime you want. As a cryptocurrency holder, you will have a secure wallet that comes with a private key, which is a set of numbers that you have to guard privately. The private key authenticates your identity on the network and enables you to buy, spend, and keep cryptocurrencies. However, if you lose that key, you will not be able to recover your holdings.
Below are different types of crypto-currencies existing in the world and their value as of March 2019:
(Bitcoin) is the first and the most used cryptocurrency in the world. Satoshi Nakamoto,founder of the BTC in 2009, defines it as user-to-user digital money system. Accepted as a way of payment in many countries around the world, Bitcoin can also be exchanged for other currencies. The transactions, which don’t need a third party or intermediary, are stocked on a public ledger or blockchain that enables anyone to view the transactions. The ledger will ensure the whereabouts of the BTC and whether the transactions are legal. To get new Bitcoins, miners solve a difficult math problem and will put a block of the transaction on the blockchain. As of today, one BTC is worth over 11,000 USD.
(Ethereum) is also an open source on the Euthereum platform that uses the blockchain to develop new coins and regulate their transactions. Ether coins also referred to as gas or fuel, are Ethereum’s token mostly used by app developers to run their apps or smart contracts on the Ethereum network. It was founded by Vitalik B.,Charles H.,Anthony Di Lorio,Amir C., and Mihai A. in December 2013. Users run it using accounts and balances in a state transition called “way." State doesn't store the transactions on the blockchain but the Merkle Patricia tree. ETH offers more liquid but few coins than BTC. It is worth 297.53 USD as of March 2019.
is also used to buy/sell products or to exchange with other cryptocurrency or fiat currency. Jed McCaleb created the ledger(Ripple) along with Arthur B., Ryan F., and David S.
Similar to Bitcoin,the transactions need small fees and take little time to go through. In September 2018, it was considered the second most valuable digital currency in the world. In March 2019, One XRP is worth $0.40.
(Bitcoin Cash) is a cryptocurrency that originated from Bitcoin. In 2017, developers wanted to extend the block size limitation, so divided the currency and the blockchain in two. The division was due to the rise of the fees on the Bitcoin platform. The BCH payments have been going down because users who were in possession in BTC were selling them. 1BTC=403USD.
(Litecoin) is also a decentralized digital currency based on the user-to-user and open source system. Litecoin, released in 2011by Charlie L. is very similar to Bitcoin. LTC offers just 2.5 minutes for the block to be stoked with BTC using 10 minutes. 1LTC=119.25USD.
is a cryptocurrency that uses the open source Stellar system. Jed McCaleb and Joyce Kim founded stellar. The platform offers banks and people connections at low fees. It also provides cross-border transactions in more than 70 countries. Users can send or receive fiat money with the system converting the digital money in fiat currency with the Forex system. 1XLM=0.10USD.
(Ethereum Classic) was created after the Decentralized Autonomous Organization was hacked and more than 6 million Ether coins were stolen. Sharing codebase and name with Ethereum,it gives the cryptocurrency an advantage on the market. 1ETC=7.72USD.
(Zest Money) is also a digital payment mode. Zetacoin uses the Equated Monthly Installment(EMI) system. The users don’t need credit scores or credit cards. Created in 2015 by Lizzie C., Priya S., and Ashish A., ZET has investors like PayU, Ribbit Capital, … 1ZET=0.0014USD.
(Basic Attention Token) is a cryptocurrency used by Brave Browser to reward users who choose to view the online ads and the content creators. Created in 2015 by Brendan E. and Brian B., BAT and Brave aim to change the online advertisement business drastically. 1BAT=0.3USD.
or USD Coin is a digital currency that holds its value as a stable coin, meaning that for one USDC, you get one USD.
or 0x offers a decentralized exchange. The Ethereum smart that the 0x is based on allowing users to make transactions with a decentralized system. At the same time, ZRT offers a combination of centralized and decentralized exchanges. 1ZRX=0.30USD
is also built on the blockchain and is expected to become the new Internet. The system can confirm a transaction in a small period. EOS was created by Block One when they raised over $4 Billion in crowdfunding. These were allocated to the decentralized apps. Without shareholders asking for benefits, the revenues go to users. The users will be rewarded in EOS tokens. Whoever creates a website or app on Eos will get said EOS token. 1EOS=$5.68.
or Binance coin, was created by Binance. BNB runs on the Ethereum blockchain, and it is used organically on the Binance platform to pay listing, exchange and other fees. Now and then, they will systematically destroy up to 50% of the BNB (100 million BNB). 1BNB=32.7USD
or Carnado is a cryptocurrency and also a platform. The Carnado platform confirms transactions on low cost and energy. Like Ethereum, the system is based on smart contracts. It was created by Charles Hoskinson (co-founder of Ethereum). The system intends to disconnect the smart contracts and ADA transactions. With speedy transactions, ADA offers users to enjoy apps and smart contracts easily. 1ADA=0.08%
is a digital currency that was created by Tether Limited. Just like USDC, USDT was a stable coin (1USDT=1USD) until last month when Tether Ltd. Included loans and stopped their backing of the currency. The cryptocurrency is very controversial as there are many suspicions over the price manipulation and their dollar stock.
Cryptocurrencies (2nd p art)
or Bitcoin Satoshi Vision was created in 2018 and designed by nChain (Steve S and Daniel C.). It came from Bitcoin Cash and was created to bring back the first Bitcoin protocol. It became one of the most traded digital currency on the market.1 BSV=201.16USD.
(Monero) is a safe and private cryptocurrency with an obscure public ledger making it untraceable, meaning that only users can view the transactions, outsiders can't. The digital asset was created in 2014 by Nicolas van Saberhagen. 1 XMR=$89.54.
is also a decentralized digital currency run by a group of users (master nodes). The cryptocurrency was initially called Xcoin and was created by Evan Duffield. Later, it became Darkcoin, and in 2015, it took the name Dash. Dash offers cheap transaction fees (1 cent), which makes it one of the most used cryptocurrencies. 1Dash=156.47USD.
is a decentralized cryptocurrency created for users of the Internet of Things. Unlike otherdigital currencies run on the blockchain, IOTA is scalable. The system uses the Tangle structure. With Iota, transactions are fees-free, which ease the microtransactions. 1IOTA=0.39USD.
is also decentralized currency which runs on the blockchain. Neo uses digital identities and smart contracts. Users can enjoy safety transactions and assets protection through digital certification. Neo utilizes the dual token system with which users can create apps and ICOs. 1NEO=$17.64.
(Maker) is a cryptocurrency on the Ethereum chain and also uses smart contracts. MKR coins are made or destroyed depending on the fluctuation of the prices. They intend to make MKR an almost stable coin with the exchange rate kept around the DAI coin. 1MKR=639.44USD.
or Ontology is a digital currency on the blockchain platform. The Chinese firm, OnChain, created the platform ontology in 2017. It offers other platforms a new way of doing business. The holders of ONT tokens will have their say when there is any problem on the network. They will also get ONG (Ontology Gas) coins which are used to put into practice smart contracts or buy network storage. 1ONT=1.40USD.
(Tezzie) is a digital currency created by Tezos platform which functions like Ethereum. Tezos, developed by Arthur Breitman, hosts smart contracts and applications. Holders of the XTZ tokens will be able to voice their opinion when it comes to the flaws and making the platform's fast and secure. 1XTZ=1.11USD.
is a cryptocurrency used on NEM. NEM is a blockchain platform with POI algorithm, message encryption, Eigentrust++ system, and multisig accounts. All the transactions on the platform usually have fees linked to them which are paid in XEM (NEM’s own digital currency). 1 XEM=0.089USD.
was created on the VeChain Thor blockchain. The blockchain hosts apps and smart contracts. The blockchain users can exchange storage data. VET coins are used in any transaction on the platform. 1VET=0.07USD.
or Dogecoin was created in 2013 by Jackson Palmer and Billy Markus. The digital currency's name came from a famous Internet meme. The Dogecoin platform wanted to appear friendly and easy to understand by the users as opposed to a complicated Bitcoin. Users use Dogecoin like the upvote system of Redditas they tip other users with better contents/posts. 1 Doge=$0.0032.
or Bitcoin Gold is also a decentralized currency created in 2017. BTG is a Bitcoin Cash’s hard fork on the Bitcoin blockchain.It has the same use as Bitcoin, but the two differs on their mining process. While Bitcoin mining uses SHA-256, Bitcoin Gold uses Equihash. 1BTG=26.41USD.
or OmiseGo is a cryptocurrency used to pay transactions fees on the blockchain of the same name. Users can also use OMG to stake (they can run a validator node), and the OMG's value will rise following the number of transactions made on the platform. 1OMG=2.39USD.
is a decentralized cryptocurrency. It offers users quick transactions and exceptional scaling. Better scaling will give the user faster mobile smart contracts and applications. 1 QTUM=5.11USD.
is a digital currency used on the Wave platform. Users can create their own token and make transactions or exchange them with other tokens through the decentralized exchange system DEX. 1WAVES=1.90USD.
is the cryptocurrency used on the Lisk blockchain. It was founded by Max Kordek and Oliver Beddows in 2016. Users/developers use Lisk to build their own decentralized applications. They pay the fees using LSK coins. 1LSK=1.73USD.
is a cryptocurrency used on the Decred platform. The Decred coin owners give them total power in decision making (like shareholders would) and selecting rules. The total supply is of 21 million coins. 1DCR=$30.34.
or Ravecoin is a digital currency used on the Ravecoin blockchain. The platform's domain is specifically the transfer of assets. The blockchain offers great privacy in the user-to-user transfer. The users will pay the transfer fees using Ravencoin to developers or miners. 1RVN=0.05USD.
is a digital asset used on the Augur Decentralized Oracle System. The users pay using REP to make markets and create trading events. The primary use of Augur is betting on future events. 1REP=$14.88.
or Zilliqa is the name of both a blockchain and its cryptocurrency. The best thing about zilliqa is its scalability. Many other platforms have troubles with scalability as transactions per seconds are reduced. 1ZIL=0.016USD.
is the token used on ICON blockchain. The network offers a space of interaction between platforms with smart contracts. ICON intends to become the biggest decentralized platform on the planet. 1ICX=0.30USD.
is a decentralized cryptocurrency used on Chainlink platform. The network gives a decentralized oracle system which facilitates the connection between off-chain resources and smart contracts. 1LINK=3.66USD.
or TrueUSD is a stable coin based on USD. It is verified and protected by third-party confirmation. The system will put up “escrow accounts” to protected users during transactions from embezzlements and counterpart possibilities. 1TUSD=$1.
is a decentralized digital money that powers BitShares and Steem. Dan Larimer created BTS in 2017. The currency can't be mined and is used for security. They also can't leave the platform as they are used in transactions and exchange only in the limits of the network. 1BTS=0.059USD.
is the cryptocurrency used on the IOST platform. The network wants to have many transactions per seconds (TPS) using POB algorithm and Micro State Blocks and sharding technologies. 1IOST=0.012USD.
is a fork cryptocurrency of Bitcoin. The benefits of Bitcoin Diamond (BCD) is regarding the coin's mining. While the Bitcoin mining involves problem-solving to get coins, to get BCD all the user has to is install graphics cards on the electronic devices. 1BCD=1.12USD.
is a cryptocurrency based on the blockchain of the same name. The platform intends to change the whole blockchain system by making the transactions fee free and quick. Each address on NANO uses its own blockchain. 1NANO=1.26USD.
CRYPTOCURRENCIES (3RD PART)
or Aeon is a cryptocurrency created by Yanislav Malahov in 2017 through Testnet. The digital currency is used on Aeternity platform built for decentralized applications. The network focuses on the growth of the scalability of decentralized apps and smart contracts. This growth is enhanced by the use of a new consensus tool to increase transactions per second. 1AE=0.45USD.
or Holochain token is the digital currency used on the Hologram platform. The network was also created for decentralized apps developers. The platform’s intention is also to reduce scalability issues.1HOT=0.001USD.
or DiGiByte is the name of a platform and also its cryptocurrency. The platform is decentralized and possesses an immutable ledger that stocks all the transactions and DGBs. DiGiByte allows users to send money on the internet and the platform envisions to have 21 billion coins by 2035. 1DGB=0.011USD.
is the digital currency used on the platform Steemit. The network is built on STEEM blockchain for decentralized apps. Steemit is a social networking website where users who post the best contents are rewarded using STEEM coins. 1STEEM=$0.34.
or Verge coin is used on Verge blockchain. The platform makes it impossible for third parties to know the location of the transacting individuals by obfuscating their IP addresses. XVG is also an open-source, decentralized currency. 1XVG=0.007USD.